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Gucci 'aiming to attract wealthiest consumers'

21 Feb 12 - 12:04PM  | Design & Luxury

Since Patrizio Di Marco took over as the chief executive officer of luxury goods brand Gucci in 2009, he has set about overhauling the company's image to make it a hit with the most rich and famous of all consumers.

The high-flying design chief has told Bloomberg that it was very much a case of evolution rather than revolution required at the firm.

In his own words, his work has been about "fine tuning" what was already one of the most prestigious designer brands in the fashion market so that it appealed to the wealthiest clientele.

Speaking in Paris, Mr Di Marco is quoted as stating: "In any possible psychological swing, you'll always have the upper tiers of the pyramid that stay there, that keep on being wealthy and they stick to you. The important thing is to do whatever it takes to have this loyalty base increase."

With his intentions in mind, it comes as no surprise to find out about some of the changes he has implemented during his time at Gucci. For instance, the average price of handbags has risen by 30 per cent.

However, the hike in prices is not without its justification, as Mr Di Marco has also decided to improve the quality of the materials that Gucci uses. Bags are now designed in python, while crocodile and leather trims are not uncommon.

The decision to target the richest people in the market appears to be a good one, as just five per cent of Gucci's customers are said to be responsible for "a good deal" of its revenue.

One part of the world the brand may be wise to target is China, where consumers are increasingly looking to invest in designer products rather than fakes, according to a recent report by the Wall Street Journal.

But even if it does not, nobody can deny the strides Gucci is taking, as it looks back on 2011 as another year of increased takings.

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